I was just doing some simple tech analysis, not that I know what i am really doing... I am hypothesizing a continuing trend to 1400 as next major support level.
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Gold took a 2.3% drop over 3 trading days and I cleared out all my losing trades from my primary trade account on my hypothesis it will continue to go down. It is trading in a 4% trading range and it is currently at the bottom. It has cut through the bottom of the support level at 1460. If there is another down day, I believe the next support level will be $1440, then 1400, 1380.
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Gold took a 2.3% drop over 3 trading days and I cleared out all my losing trades from my primary trade account on my hypothesis it will continue to go down. It is trading in a 4% trading range and it is currently at the bottom. It has cut through the bottom of the support level at 1460. If there is another down day, I believe the next support level will be $1440, then 1400, 1380.